Title: Basis of presentation
Accounting Policies: 1. Basis of presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Homewise, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of Homewise.
2. Summary of significant accounting policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available.
The Organization elected not to use the 10% de minimis indirect cost rate.
3. Loans and loan guarantees
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees. The reported amount includes new loans made during the year, plus prior year loans for which the federal awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in the Schedule of Expenditures of Federal Awards are adjusted as follows:
2025
Total 2025 expenditures per the Schedule
$ 5,039,038
Loans and loan guarantees (ending balance March 31, 2024):
Capital Magnet Fund (ALN #21.011) 5,833,955
CDFI Financial Assistance (ALN #21.020) 1,324,949
CDFI Rapid Response Program (ALN #21.024) 1,615,582
CDFI Equitable Recovery Program (ALN #21.033) 2,475,474
CDFI Bond Guarantee Program (ALN #21.014) 13,201,828
Adjusted total expenditures per the Schedule $ 29,490,826
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate.
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of
Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2025.
The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal
Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for
Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in or
used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected
portion of the operations of Homewise, it is not intended to and does not present the financial position, changes
in net assets, functional expenses or cash flows of Homewise.
Title: Summary of significant accounting policies
Accounting Policies: 1. Basis of presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Homewise, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of Homewise.
2. Summary of significant accounting policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available.
The Organization elected not to use the 10% de minimis indirect cost rate.
3. Loans and loan guarantees
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees. The reported amount includes new loans made during the year, plus prior year loans for which the federal awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in the Schedule of Expenditures of Federal Awards are adjusted as follows:
2025
Total 2025 expenditures per the Schedule
$ 5,039,038
Loans and loan guarantees (ending balance March 31, 2024):
Capital Magnet Fund (ALN #21.011) 5,833,955
CDFI Financial Assistance (ALN #21.020) 1,324,949
CDFI Rapid Response Program (ALN #21.024) 1,615,582
CDFI Equitable Recovery Program (ALN #21.033) 2,475,474
CDFI Bond Guarantee Program (ALN #21.014) 13,201,828
Adjusted total expenditures per the Schedule $ 29,490,826
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate.
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are
recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform
Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain
types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available.
The Organization elected not to use the 10% de minimis indirect cost rate.
Title: Loans and loan guarantees
Accounting Policies: 1. Basis of presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Homewise, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of Homewise.
2. Summary of significant accounting policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available.
The Organization elected not to use the 10% de minimis indirect cost rate.
3. Loans and loan guarantees
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees. The reported amount includes new loans made during the year, plus prior year loans for which the federal awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in the Schedule of Expenditures of Federal Awards are adjusted as follows:
2025
Total 2025 expenditures per the Schedule
$ 5,039,038
Loans and loan guarantees (ending balance March 31, 2024):
Capital Magnet Fund (ALN #21.011) 5,833,955
CDFI Financial Assistance (ALN #21.020) 1,324,949
CDFI Rapid Response Program (ALN #21.024) 1,615,582
CDFI Equitable Recovery Program (ALN #21.033) 2,475,474
CDFI Bond Guarantee Program (ALN #21.014) 13,201,828
Adjusted total expenditures per the Schedule $ 29,490,826
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate.
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements,
Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees.
The reported amount includes new loans made during the year, plus prior year loans for which the federal
awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in
the Schedule of Expenditures of Federal Awards are adjusted as follows:
2025
Total 2025 expenditures per the Schedule $ 5,039,038
Loans and loan guarantees (ending balance March 31, 2024):
Capital Magnet Fund (ALN #21.011) 5,833,955
CDFI Financial Assistance (ALN #21.020) 1,324,949
CDFI Rapid Response Program (ALN #21.024) 1,615,582
CDFI Equitable Recovery Program (ALN #21.033) 2,475,474
CDFI Bond Guarantee Program (ALN #21.014) 13,201,828
Adjusted total expenditures per the Schedule $ 29,490,826
Title: CDFI capital magnet fund
Accounting Policies: 1. Basis of presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Homewise, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of Homewise.
2. Summary of significant accounting policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available.
The Organization elected not to use the 10% de minimis indirect cost rate.
3. Loans and loan guarantees
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees. The reported amount includes new loans made during the year, plus prior year loans for which the federal awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in the Schedule of Expenditures of Federal Awards are adjusted as follows:
2025
Total 2025 expenditures per the Schedule
$ 5,039,038
Loans and loan guarantees (ending balance March 31, 2024):
Capital Magnet Fund (ALN #21.011) 5,833,955
CDFI Financial Assistance (ALN #21.020) 1,324,949
CDFI Rapid Response Program (ALN #21.024) 1,615,582
CDFI Equitable Recovery Program (ALN #21.033) 2,475,474
CDFI Bond Guarantee Program (ALN #21.014) 13,201,828
Adjusted total expenditures per the Schedule $ 29,490,826
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate.
Loans outstanding at the beginning of the year and expenditures made during the year are included in the federal
expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2025, consists of:
Beginning balance, March 31, 2024 $ 5,833,955
Loans deployed 1,179,090
Less principal payments (82,339)
Ending balance, March 31, 2025 $ 6,930,706
Title: CDFI financial assistance
Accounting Policies: 1. Basis of presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Homewise, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of Homewise.
2. Summary of significant accounting policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available.
The Organization elected not to use the 10% de minimis indirect cost rate.
3. Loans and loan guarantees
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees. The reported amount includes new loans made during the year, plus prior year loans for which the federal awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in the Schedule of Expenditures of Federal Awards are adjusted as follows:
2025
Total 2025 expenditures per the Schedule
$ 5,039,038
Loans and loan guarantees (ending balance March 31, 2024):
Capital Magnet Fund (ALN #21.011) 5,833,955
CDFI Financial Assistance (ALN #21.020) 1,324,949
CDFI Rapid Response Program (ALN #21.024) 1,615,582
CDFI Equitable Recovery Program (ALN #21.033) 2,475,474
CDFI Bond Guarantee Program (ALN #21.014) 13,201,828
Adjusted total expenditures per the Schedule $ 29,490,826
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate.
Loans outstanding at the beginning of the year and expenditures made during the year are included in the federal
expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2025, consists of:
Beginning balance, March 31, 2024 $ 1,324,949
Loans deployed -
Less principal payments (24,905)
Ending balance, March 31, 2025 $ 1,300,044
Title: CDFI rapid response program
Accounting Policies: 1. Basis of presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Homewise, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of Homewise.
2. Summary of significant accounting policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available.
The Organization elected not to use the 10% de minimis indirect cost rate.
3. Loans and loan guarantees
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees. The reported amount includes new loans made during the year, plus prior year loans for which the federal awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in the Schedule of Expenditures of Federal Awards are adjusted as follows:
2025
Total 2025 expenditures per the Schedule
$ 5,039,038
Loans and loan guarantees (ending balance March 31, 2024):
Capital Magnet Fund (ALN #21.011) 5,833,955
CDFI Financial Assistance (ALN #21.020) 1,324,949
CDFI Rapid Response Program (ALN #21.024) 1,615,582
CDFI Equitable Recovery Program (ALN #21.033) 2,475,474
CDFI Bond Guarantee Program (ALN #21.014) 13,201,828
Adjusted total expenditures per the Schedule $ 29,490,826
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate.
Loans outstanding at the beginning of the year and expenditures made during the year are included in the federal
expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2025, consists of:
Beginning balance, March 31, 2024 $ 1,615,582
Loans deployed -
Less principal payments (45,386)
Ending balance, March 31, 2025 $ 1,570,196
Title: CDFI bond guarantee program
Accounting Policies: 1. Basis of presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Homewise, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of Homewise.
2. Summary of significant accounting policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available.
The Organization elected not to use the 10% de minimis indirect cost rate.
3. Loans and loan guarantees
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees. The reported amount includes new loans made during the year, plus prior year loans for which the federal awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in the Schedule of Expenditures of Federal Awards are adjusted as follows:
2025
Total 2025 expenditures per the Schedule
$ 5,039,038
Loans and loan guarantees (ending balance March 31, 2024):
Capital Magnet Fund (ALN #21.011) 5,833,955
CDFI Financial Assistance (ALN #21.020) 1,324,949
CDFI Rapid Response Program (ALN #21.024) 1,615,582
CDFI Equitable Recovery Program (ALN #21.033) 2,475,474
CDFI Bond Guarantee Program (ALN #21.014) 13,201,828
Adjusted total expenditures per the Schedule $ 29,490,826
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate.
Bonds outstanding at the beginning of the year and bond funding drawn during the year are included in
the federal expenditures presented in the Schedule. The balance of bonds outstanding at March 31, 2025,
consists of:
Beginning balance, March 31, 2024 $ 13,201,829
Loans deployed -
Less principal payments (405,779)
Ending balance, March 31, 2025 $ 12,796,050
Title: CDFI equitable recovery program
Accounting Policies: 1. Basis of presentation
The accompanying Schedule of Expenditures of Federal Awards (the Schedule) includes the expenditures of Homewise, Inc. (“Homewise”) under programs of the federal government for the year ended March 31, 2025. The information in the Schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. Therefore, some amounts presented in the Schedule may differ from amounts presented in or used in the preparation of the consolidated financial statements. Because the Schedule presents only a selected portion of the operations of Homewise, it is not intended to and does not present the financial position, changes in net assets, functional expenses or cash flows of Homewise.
2. Summary of significant accounting policies
Expenditures reported in the Schedule are reported on the accrual basis of accounting. Such expenditures are recognized following cost principles contained in Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, wherein certain types of expenditures are not allowed. Federal Assistance Listing Numbers (“ALN”) are provided when available.
The Organization elected not to use the 10% de minimis indirect cost rate.
3. Loans and loan guarantees
In accordance with Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards, Homewise discloses loans and loan guarantees. The reported amount includes new loans made during the year, plus prior year loans for which the federal awarding agency imposes continuing compliance requirements. Accordingly, the total expenditures reported in the Schedule of Expenditures of Federal Awards are adjusted as follows:
2025
Total 2025 expenditures per the Schedule
$ 5,039,038
Loans and loan guarantees (ending balance March 31, 2024):
Capital Magnet Fund (ALN #21.011) 5,833,955
CDFI Financial Assistance (ALN #21.020) 1,324,949
CDFI Rapid Response Program (ALN #21.024) 1,615,582
CDFI Equitable Recovery Program (ALN #21.033) 2,475,474
CDFI Bond Guarantee Program (ALN #21.014) 13,201,828
Adjusted total expenditures per the Schedule $ 29,490,826
De Minimis Rate Used: N
Rate Explanation: The Organization elected not to use the 10% de minimis indirect cost rate.
Loans outstanding at the beginning of the year and expenditures made during the year are included in the federal
expenditures presented in the Schedule. The balance of loans outstanding at March 31, 2025, consists of:
Beginning balance, March 31, 2024 $ 2,475,474
Loans deployed -
Less principal payments (78,270)
Ending balance, March 31, 2025 $ 2,397,204